Net Earnings Per Share

9 Months Ended

Sep. 30, 2022

Net Earnings Per Share Basic EPS is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is

computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock units (“RSUs”) and certain shares underlying the Notes. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net earnings	$	57,316	$	55,483	$	203,131	$	157,212
Denominator:
Weighted average shares used to compute basic EPS	34,952		34,855		35,003		35,050
Dilutive potential common shares due to dilutive RSUs, net of tax effect	201		381		243		407
Dilutive potential common shares due to the Notes	1,187		1,509		1,468		1,403
Weighted average shares used to compute diluted EPS	36,340		36,745		36,714		36,860
Net earnings per share:
Basic	$	1.64	$	1.59	$	5.80	$	4.49
Diluted	$	1.58	$	1.51	$	5.53	$	4.27

For the three and nine months ended September 30, 2022, 67,000 and 39,000, respectively, of our RSUs were excluded from the diluted EPS calculations and certain potential outstanding shares from the warrants relating to the Call Spread Transactions were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three and nine months ended September 30, 2021, 900 and 400, respectively, of our RSUs were excluded from the diluted EPS calculations and certain potential outstanding shares from the warrants related to the Call Spread Transactions were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.